US Dollar Strengthened Against Major Currencies
The US dollar rose, restoring losses, especially against the Japanese yen, confirming signs that the investors' appetite for risk has improved again. The US currency rose to a two-week high against the basket of six major currencies, as optimism about the progress of lawmakers regarding tax reforms in the US continues to grow. Priority data on employment in the private sector of the US, published on Wednesday, also provided support to the dollar.
The Canadian dollar is trading in a narrow range, after a sharp decline yesterday on the results of this year's last meeting of the Bank of Canada. Central Bank of Canada decided yesterday to leave the base interest rate at the previous level of 1% per annum, and the deposit rate at the level of 0.75% per annum, which coincided with the forecasts of analysts.
WTI crude oil fell from $57.19 to $56.00 per barrel, despite the fact that the Energy Information Administration (EIA) reported a 5.6 million barrel drop in oil reserves per week.